After-Hours Movers 10/05: NTRI, CRUS, AMMD, DINE Higher; EXTR, TISI, RBN, LAD, ALTH Lower
Nutrisystem, Inc. (Nasdaq: NTRI) 24.7% HIGHER; has aligned with Walmart (NYSE: WMT) to offer customers the convenience of a Nutrisystem 14-Day Starter Program for the first time in the retail channel. "Our alliance with Walmart is an extension of our goal to consistently offer consumers a convenient, affordable and effective weight loss option," said Will Auchincloss, Senior Vice President of Business Development at Nutrisystem. "Walmart provides us with a new and valuable distribution channel to broaden our customer base and build awareness of our product at the retail level."
Extreme Networks, Inc. (Nasdaq: EXTR) 18% LOWER; sees first quarter net revenue of approximately $66 million, which is below the consensus of $80.4 million. "Our supply chain was constrained during the quarter, impacting our ability to deliver product, close transactions and recognize revenue. Our North America business was particularly soft, as some deals were lost and others were delayed beyond the end of the quarter," said Mark Canepa, president and CEO of Extreme Networks.
Cirrus Logic (Nasdaq: CRUS) 11.2% HIGHER; raises its Q2 sales guidance from $48-$52 million to $55.7 million, which compares to the Street estimate of $49.84 million. Cirrus sees Q2 gross margin at the upper range of 50-52%.
Team Inc. (Nasdaq: TISI) 10.2% LOWER; reports Q1 EPS of $0.09, ex-items, 2 cents lower than the analyst estimate of $0.11. Revenue for the quarter was $100.9 million, which compares to the estimate of $104.03 million. Reaffirms its FY10 guidance.
Robbins & Myers Inc. (NYSE: RBN) 7% LOWER; reports Q4 EPS of $0.39, 19 cents better than the analyst estimate of $0.20. Revenue for the quarter was $155 million, which compares to the estimate of $136.80 million. Sees Q1 adj-EPS of $0.05-$0.15, versus the consensus of $0.22. Sees FY10 adj-EPS of $0.80-$1.00, which compares to the Street estimate of $1.19.
Lithia Motors, Inc. (NYSE: LAD) 6.6% LOWER; has commenced a public offering of 4,000,000 shares of Class A common stock. The Company also intends to grant to the underwriters for the public offering a 30-day option to purchase up to an additional 600,000 shares to cover over-allotments, if any. J.P. Morgan Securities Inc. is acting as the sole bookrunner for the offering and Stephens Inc. is acting as a co-manager.
American Medical Systems Holdings, Inc. (NASDAQ: AMMD) 3.5% HIGHER; today announced the divestiture of its female sterilization assets and technology to Conceptus, Inc. (NASDAQ: CPTS) for $23.6 million. Also, as a result of this asset sale agreement, and separate agreements completed with third parties, AMS eliminated all existing and potential obligations and liabilities under previous agreements associated with the Ovion technology. The asset sale agreement also releases Conceptus from any future royalty obligations to AMS.
Allos Therapeutics, Inc. (Nasdaq: ALTH) 3.3% LOWER; is offering to sell, subject to market and other conditions, 11,000,000 primary shares of its common stock pursuant to an effective shelf registration statement in an underwritten public offering.
Rewards Network Inc. (NASDAQ: DINE) 2.5% HIGHER; declared a special cash dividend of $2.00 per share of common stock, payable on October 22, 2009 to stockholders of record at the close of business on October 15, 2009.
Harris & Harris Group, Inc. (Nasdaq: TINY) 2.5% LOWER; announced the proposed follow-on public offering of shares of its common stock. The offering price of the shares will be determined by market conditions at the time of pricing in consultation with the underwriter of the offering. The offering is being made pursuant to a shelf registration statement, which was filed with and has been declared effective by the Securities and Exchange Commission. Needham & Company, LLC is acting as sole book running manager in the offering.
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